ESP Resources, Inc. reported un-audited financial results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenues from production petrochemicals of $2,866,790 compared to $1,870,840 in the first quarter of 2013, a 53.2% increase; and an 18.6% increase from $2,416,805 in the fourth quarter of 2013. Adjusted EBITDA, a non-GAAP measure, swung into the positive at $50,606, as compared to a adjusted LBITDA of $503,477 in the first quarter of 2013.

Operating loss from continuing operations decreased 61.6% to $371,851 as compared to $970,754 for the comparable 2013 period. Excluding a loss on disposal of certain assets of $16,169, stock-based compensation of $233,069 and depreciation and amortization of $180,000, pro forma operating profit was $57,687 for the first quarter of 2014. Net loss decreased 41.3% to $756,309 as compared to $1,288,393 for the comparable 2013 period.

Sales were $3,152,765 compared to $3,454,957 for the same period in 2013, a decrease of $302,192, or 9%. The decrease was mainly due to a $1,357,000 decreased sales volume from completion petrochemical sales and services to customers engaged in the hydraulic fracturing of oil and gas wells. The primary reason for the decrease in the net loss was due to a cost reduction initiated by the company in the second half of 2013.